The Grenada gazette. (Grenada, Miss.) 1885-18??, 1887-08-20

III that eve not . nsh had bitten
ruth was stranger thsn flctioni
G&tr 7ssf LIS --Dokotd Bell.
NT NOTES AND COIN.
Millions That Annually 90
Astray.
s,urv Officials Unable to Name the
.ount approximately "A Vast Amount
psstroyed in Fires-silver Preferred
In the South.
The interesting question of how much
tpey has been and will continue to
lost to the volume of currency and
b used as circulating medium,
yugh the various accidents and in
lents Of business pursuits and pri-
lie life. is widely discussed in finan-
ii circles ut Washington, with but
nls satisfactory results in the way
reliable determination. Congress
used an act. approved May 81. 1873.
bich forbade the further retirement
llegal-tender notes. and since that
,riod the greenback circulation is
zed definitely at the sum of $346. 6S1.-
Us which is the amount outstanding.
kutilated notes are, of course. re-
eeu,ed when presented at the Treas
ry, but Just how much Of this par
irular money has been eloigned or de.
,troyed can not be even approximately
estimated. xii
According to the report Of the
United States Treasurer for the fiscal
YEAR ended June 80. 1886. there were
outstanding $57. AS Of "old demand
|potes, issue of 1862. this out of an
original issue Of t54 los. 2S5; $68, 1855
Of one and two-year notes, issue Of
1862 out of an original issue of $172.-
tN.55O; el99, $50 Of compound interest
notes, issues of 1864 and 1865 out Of
the main issue Of 1865 Of tl9l, 72l. 40,
and s15. $50. 02565 Of fractional cur
rency, being q gross total Of 1882. 1884,
sl85. including United States notes
or grecnbacks.' OF this fractional
currency thus outstanding, it was esti-
msted by act Of juno 81. 1879. that
&S75, 934 had been utterly lost or de-
aroyed. but that estimate was wholly
arbitrary and assumed, and the fact
nevertheless remains that over $15. OOO.-
900 Of this fractional currency has
never been presented for redemption
and forms no part Of tho circulating
medium, while . total Of 1928. $50 Of
Old demand, one and two years. and
interest notes have become
practically intangible. OF these latter
notes only @7,0N aoated in for re-
asmption during the last fiscal year.
! little over 2 per cent-and with
very recurring year this percentage
must become less. and none Of the
notes will I've ever heard from. The
lame result necessarily attends the
outstanding fractional currency. As
i 10 not possible to estimate with
wen approximate correctness the
AMOUNT Of United States notes that
nave been lost and destroyed. it neces-
'arily follows that like conditions at-
ach to National bank notes. A ccord-
ng to the Last report Of the Comp
roller Of the Currency to July ! there
Eere o279. 900 round numbers Of
outstanding National bank curren cy.
Which was . reduction Of some g.
10000 in its volume during the
month Of June. This amount, added
9 the total Of outstanding United
Rates currency. makes . gross total.
ound numbers Of o84l, 500, 900. rep.
easntin9 the circulating medium Of
hs country other than coin certifi.
alss. and the opinion ID hssarded BY
aany Intelligent persons that this
mount has bsen reduced by probably
1O0 900. 900 through destruction by
'aricus causes.
Assistant Treasurer whslpley prob
Ny tAs best posted person In tho
.esatsy IN kindred matters, stated 70
~ 1sralEs correspondent that be
'ssA not hasard an opinion ~ TO
nat amount Of this currency had been
~ cad consequently withdrawn from
srcslatioM Tho difficulty In arriv-
e q any dedalts or even approxi.
.ale conclusion In this behalf" said
WAslplex s1iss In the fact that we
lave - basls whsrefrom to draw 10
lsnata eannlnsionA Prior n the late
~ " eaaks u Issue estimated . Ger,
~ !. esrcentaes q less os. .dsstructaon
q 49, aotss, but even while such ~
|. ~ ~ n&Asia nsFsnal conclusions
9y9s ~ wholly reliable Now. dur
~ leas M. wkeh We conditions were
NJ. steIAal tAtls sxttsnA thsloss Or do
d. ~ stpAPsr lSauss nnst have bssn
n - Sreaetw 4 Tales, lor instance
: - oEe6t Chicago Ore. One MILL
nMnYIneu. A. vp-66~A @k~kAa AAknn